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Hong Kong ChaoShang Group Ltd. ( (HK:2322) ) has issued an update.
Modern Innovative Digital Technology Company Limited has announced a supplemental update regarding the placement of up to 300 million new shares, aiming to raise approximately HK$29.3 million in net proceeds. The primary use of these funds will be to bolster the financial resources of its subsidiary, ChaoShang Securities Limited, ensuring compliance with the Securities and Futures Commission’s requirements. This move addresses the need for adequate financial backing to cover operating expenses for at least six months, highlighting the company’s proactive approach to financial stability and regulatory adherence.
The most recent analyst rating on (HK:2322) stock is a Hold with a HK$0.10 price target. To see the full list of analyst forecasts on Hong Kong ChaoShang Group Ltd. stock, see the HK:2322 Stock Forecast page.
More about Hong Kong ChaoShang Group Ltd.
Hong Kong ChaoShang Group Ltd. operates in the financial services industry, focusing primarily on securities trading and related financial services through its subsidiary, ChaoShang Securities Limited. The company is committed to maintaining sufficient financial resources to comply with regulatory requirements in Hong Kong.
Average Trading Volume: 18,114,398
Technical Sentiment Signal: Sell
Current Market Cap: HK$432.7M
For a thorough assessment of 2322 stock, go to TipRanks’ Stock Analysis page.